Berkshire Hathaway – Event Review – Part 2

Three Parts: ON SUCCESS, ON BUSINESS, ON THE PROFESSIONAL

PART II: ON BUSINESS

By: Nora Johnson

During the first weekend of May, I attended my first-ever Shareholder meeting: the 2008 Berkshire Hathaway Annual Meeting. From a meeting perspective, it was fascinating. From a business perspective, it was brilliant.

The only General Session, per se, took place on Saturday, May 3. The format was simple, yet very effective: sit, watch a clever cartoon and listen to general Q&A for the remainder of the day. I cannot speak about the specifics of the featured cartoon, but I must say that if you ever get the chance to attend one of their Annual Meetings, this was a treasure. Lessons and laughter; that’s all there is to it.

The Q&A session was unlike others I had seen. The questions were not previewed and selected prior to the meeting. In other words, the entire meeting was not scripted and staged. It was refreshing. People from across the world, across different age groups and with different motivations for attending stepped forth to ask their questions. Whether it was a question from a 12 year old boy or an international investor, all questions were treated with the same respect. Open and oftentimes humorously honest answers were given. The effect was one that bred confidence and ease.

Regarding business, I had been curious about the events that would take place around the main session. Why did I consider the business aspect of this meeting brilliant? Simple. Show the value of what you represent and offer by turning your Shareholders into your consumers. The major functions either took place at Borsheim’s (a jewlery store) that was adjacent to other store chains that fell under the Berkshire Hathaway umbrella or at the famous Nebraska Furniture Mart.

One not only became more invested in the various aspects of the company because they got to see and experience the brands and products beyond the exhibit booth, but because THEY invested IN Berkshire Hathaway as they kept the sales teams on their feet and the registers rolling throughout the entire weekend.

How simply wonderful it is to contribute to the success of your investment. Better than exhibits and traditional giveaways, attendees experienced the products and services, chose what they would take home with them to remember Berkshire Hathaway and became financially invested themselves (as they paid for what they chose to bring home with them!). Ultimately, they are bonded tighter to Berkshire Hathaway than they had been before. The best part: they are eagerly looking forward to do it all over again next year.